Public Policy

The Academy, through its public policy work, seeks to address pressing issues that require or would benefit by the sound application of actuarial principles. The Academy provides unbiased actuarial expertise and advice to public policy decision makers and stakeholders at the state, federal and international levels in all areas of actuarial qualifications. It also advocates on behalf of the profession and promotes the use of actuaries in non-traditional areas.

The Casualty Practice Council (CPC) provides objective technical expertise to policymakers and regulators on major property/casualty issues, including medical professional liability and flood insurance.

The Life Practice Council (LPC) provides objective technical expertise to policymakers and regulators on life insurance issues, including a principle-based regulatory approach to reserving and risk-based capital.

The Pension Practice Council (PPC) provides objective technical expertise to policymakers and regulators on major retirement policy issues, including Social Security, defined benefit pension plans, and retiree health.

no nameActuaries Making a Difference: Why Public Policy MattersDo you have a lot to give? Academy leaders discuss why they volunteer with the Academy, and the impact this has not just on the profession but also on society.bitrate 16996 kb/sheight 1080duration 00:03:46.76fps SARwidth 1920originaldate 2016-05-06T16:04:10.000000Z

Public Policy News

The PBR Review Procedures Work Group released an exposure draft of a practice note: Common Practices of Examining Actuaries Involved in Statutory Financial Solvency Examinations of Life and Health Insurers, Including Considerations for Principle-Based Reserves. Comments are due to the Academy on Monday, July 1, 2019. (April 2, 2019)

The Academy responded in writing to questions from the House Subcommittee on Health, Education, Labor, and Pensions as a follow-up to the panel’s March 7 hearing, “The Cost of Inaction: Why Congress Must Address the Multiemployer Pension Crisis,” at which Josh Shapiro, the Academy’s vice president, pension, testified. (March 29, 2019)

The Academy's senior casualty fellow, Rich Gibson, presented testimony on predictive modeling at a hearing on automobile insurance held by the District of Columbia's Department of Insurance, Securities and Banking.
(March 25, 2019)

Include white papers and monographs which are longer, more detailed analyses of major actuarial or public policy issues written primarily for: policy-makers, regulators, the news media, and the public. Includes monographs and white papers.

The Academy works with the National Association of Insurance Commissioners (NAIC) on the creation and refinement of sensible, effective regulation. These reports and related documents highlight the NAIC-related work of Academy practice councils.

Practice Notes

Practice notes offer examples of current and emerging approaches to selected actuarial tasks. They are intended to supplement the available actuarial literature, especially where the practices addressed are subject to evolving technology, recently adopted external requirements, or advances in actuarial science and other applicable disciplines.